Virgin Atlantic has announced it expects to make a £10 million profit this financial year turning around the airline's fortunes despite September 11, Sars and the war in Iraq.
Although turnover was down, Sir Richard Branson's airline forecasts being £10 million in the black before tax for the year ending April 2003 - a leap from a £92 million loss last financial year.
The figures, subject to a final audit, showed market turnover down to £1.4 billion from £1.5 billion in the same period last year.
Sir Richard repeated his "strong personal ambition" to keep Concorde in the skies.
He said he had written to both British Airways and the British Government "asking to get a better understanding of the aircraft and its operations".
Sir Richard, chairman of Virgin Atlantic, said: "Despite the fact our trading environment remains challenging, I'm pleased to announce today that for the financial year which ended last week we expect to have made a profit before tax of around £10 million.
"The economic downturn is eroding yields throughout the industry and its effect has been exacerbated by the Iraqi war and now, of course, by Sars.
"This is a real achievement in light of current trading conditions."
Sir Richard added: "In the current climate it's very difficult to predict what the next 12 months will bring, but we are hopeful that we will remain in profit. We need to keep a firm grip on our costs."
The announcement came on the day that Virgin Atlantic, which flies to 22 destinations worldwide, launched direct weekly scheduled flights between London Gatwick and Tobago and Grenada, as part of a 50% increase in capacity on Caribbean routes by winter this year.
